Global Payments Inc. (GPN) Coverage Initiated at KeyCorp
Equities research analysts at KeyCorp assumed coverage on shares of Global Payments Inc. (NYSE:GPN) in a research report issued on Friday, Marketbeat.com reports. The firm set an “overweight” rating and a $110.00 price target on the business services provider’s stock. KeyCorp’s price objective would indicate a potential upside of 15.04% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on GPN. Stifel Nicolaus restated a “buy” rating and set a $103.00 price objective (up from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Barclays PLC raised their price objective on shares of Global Payments from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $100.00 price objective on shares of Global Payments in a research report on Thursday, August 3rd. BidaskClub cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Wedbush restated an “outperform” rating and set a $107.25 price objective (up from $85.00) on shares of Global Payments in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $98.26.
Shares of Global Payments (NYSE GPN) traded down 0.58% during trading on Friday, reaching $95.78. 243,497 shares of the company traded hands. The firm has a 50 day moving average of $95.36 and a 200 day moving average of $88.50. The stock has a market capitalization of $14.61 billion, a PE ratio of 74.31 and a beta of 1.11. Global Payments has a 52 week low of $64.63 and a 52 week high of $98.14.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. During the same period last year, the business earned $0.76 earnings per share. Global Payments’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts predict that Global Payments will post $3.95 EPS for the current year.
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In related news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $97.70, for a total value of $58,620.00. Following the completion of the transaction, the director now owns 46,693 shares in the company, valued at $4,561,906.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 4,200 shares of Global Payments stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $89.87, for a total transaction of $377,454.00. Following the completion of the transaction, the director now owns 195,477 shares of the company’s stock, valued at approximately $17,567,517.99. The disclosure for this sale can be found here. Insiders sold 141,749 shares of company stock valued at $13,421,277 in the last quarter. 0.93% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Point72 Asia Hong Kong Ltd purchased a new position in Global Payments in the first quarter worth approximately $200,000. JPMorgan Chase & Co. lifted its stake in Global Payments by 162.0% in the second quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock worth $296,636,000 after acquiring an additional 2,030,880 shares during the last quarter. Aviva PLC lifted its stake in Global Payments by 0.6% in the second quarter. Aviva PLC now owns 93,792 shares of the business services provider’s stock worth $8,472,000 after acquiring an additional 560 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in Global Payments in the second quarter worth approximately $246,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Global Payments by 0.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 424,631 shares of the business services provider’s stock worth $38,353,000 after acquiring an additional 3,167 shares during the last quarter. Institutional investors own 97.84% of the company’s stock.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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